HSBC online application timeline confirmed.

TrustyCust

I know we have done the same. I had also held off using my credit cards at all until they do the hard credit search (all my balances are currently £0) but I am beginning to need to use it (we use it for just food & fuel) - do you think this would impact my application/offer?

matthew91822

TrustyCust said:

I know we have done the same. I had also held off using my credit cards at all until they do the hard credit search (all my balances are currently £0) but I am beginning to need to use it (we use it for just food & fuel) - do you think this would impact my application/offer?

If you pay your credit card back in full every month it shouldn't matter. I have a HSBC credit card and when I rang up to arange my advisor meeting and go through the aplication they saw it and it has a £200 debt but they said It didn't matter as I pay it in full every month anyway. I'm still using my credit card as normal which is not much anyway.

Process90

TrustyCust said:

I know we have done the same. I had also held off using my credit cards at all until they do the hard credit search (all my balances are currently £0) but I am beginning to need to use it (we use it for just food & fuel) - do you think this would impact my application/offer?

As the above poster has said, I think you'll be fine in using it so long as your pay it off and your balance reads £0 at the end of the month or at least whilst you're going through this process.

TrustyCust

Any news Process90? I rung yesterday morning and was told it was being passed to the verification team and I should hear in the next 2 business days unless it needs to be referred to an underwriter outside of the team... 

Process90

TrustyCust said:

Any news Process90? I rung yesterday morning and was told it was being passed to the verification team and I should hear in the next 2 business days unless it needs to be referred to an underwriter outside of the team... 

As far as we're aware via our broker, we passed the underwriting assessment team who verify and ask for additional docs and are in the self-employed final underwriting queue. On Tuesday the 11th they were working on cases from the 28th July and we were 270 odd in the queue. We provided our final docs on 3rd of August and were told they need nothing further so we should be hearing something anytime about now. It's just a nightmare really - they're so far behind it's a joke.

We were initially told on the 3rd that it'd be 48hrs to decision but ours has obviously had to be referred to final underwriter.

I really hope yours doesn't have to go into this queue as well. 

Process90

This is a helpful link:

http://www.intermediaries.hsbc.co.uk/our-latest-service-levels.html

TrustyCust

Process90 said:

TrustyCust said:

Any news Process90? I rung yesterday morning and was told it was being passed to the verification team and I should hear in the next 2 business days unless it needs to be referred to an underwriter outside of the team... 

As far as we're aware via our broker, we passed the underwriting assessment team who verify and ask for additional docs and are in the self-employed final underwriting queue. On Tuesday the 11th they were working on cases from the 28th July and we were 270 odd in the queue. We provided our final docs on 3rd of August and were told they need nothing further so we should be hearing something anytime about now. It's just a nightmare really - they're so far behind it's a joke.

We were initially told on the 3rd that it'd be 48hrs to decision but ours has obviously had to be referred to final underwriter.

I really hope yours doesn't have to go into this queue as well. 

I fear ours may have to be referred as it isn't a super straightforward mortgage as far as they go.. 
I hope you hear soon! They seemed to be so quick at the beginning of the process and terribly slow now. 

Process90

TrustyCust said:

Process90 said:

TrustyCust said:

Any news Process90? I rung yesterday morning and was told it was being passed to the verification team and I should hear in the next 2 business days unless it needs to be referred to an underwriter outside of the team... 

As far as we're aware via our broker, we passed the underwriting assessment team who verify and ask for additional docs and are in the self-employed final underwriting queue. On Tuesday the 11th they were working on cases from the 28th July and we were 270 odd in the queue. We provided our final docs on 3rd of August and were told they need nothing further so we should be hearing something anytime about now. It's just a nightmare really - they're so far behind it's a joke.

We were initially told on the 3rd that it'd be 48hrs to decision but ours has obviously had to be referred to final underwriter.

I really hope yours doesn't have to go into this queue as well. 

I fear ours may have to be referred as it isn't a super straightforward mortgage as far as they go.. 
I hope you hear soon! They seemed to be so quick at the beginning of the process and terribly slow now. 

Yeah, ours isn't straightforward either. We've asked for an amount that's pretty close to the max of what we can afford under HSBC's affordability guidelines and have complicated incomes. Self-employed, employed, variable incomes, and commission. 

Yeah ours was quick at the start. Valuation on day 7 after submitting, additional docs requested from us on day 8 and further evidential docs requested on day 20. Now, radio silence... 

jamesm5094

Process90 said:

TrustyCust said:

Process90 said:

TrustyCust said:

Any news Process90? I rung yesterday morning and was told it was being passed to the verification team and I should hear in the next 2 business days unless it needs to be referred to an underwriter outside of the team... 

As far as we're aware via our broker, we passed the underwriting assessment team who verify and ask for additional docs and are in the self-employed final underwriting queue. On Tuesday the 11th they were working on cases from the 28th July and we were 270 odd in the queue. We provided our final docs on 3rd of August and were told they need nothing further so we should be hearing something anytime about now. It's just a nightmare really - they're so far behind it's a joke.

We were initially told on the 3rd that it'd be 48hrs to decision but ours has obviously had to be referred to final underwriter.

I really hope yours doesn't have to go into this queue as well. 

I fear ours may have to be referred as it isn't a super straightforward mortgage as far as they go.. 
I hope you hear soon! They seemed to be so quick at the beginning of the process and terribly slow now. 

Yeah, ours isn't straightforward either. We've asked for an amount that's pretty close to the max of what we can afford under HSBC's affordability guidelines and have complicated incomes. Self-employed, employed, variable incomes, and commission. 

Yeah ours was quick at the start. Valuation on day 7 after submitting, additional docs requested from us on day 8 and further evidential docs requested on day 20. Now, radio silence... 

your still waiting unfortunately then,

i was a direct application and I have been chasing every day. We applied putting down about 11-12% deposit. The DIP said we could borrow enough but on last Monday 11th august the MA from HSBC come back saying the underwriters have assesed my application and I can only borrow X amount. (This amount was £28,000 under what we needed to lend).

i then asked the MA if we put a 15% deposit down how much could we lend then, she emailed underwriter and on Wednesday them come back saying if i put just over 15% deposit down I can lend X amount and this works for us. Only problem we have had is getting up to the just over 15% deposit but luckily bank of mum and dad has rescued us. I had a call on Thursday to alter the application figures and it has been sent straight to the original underwriter who has been dealing with my application. MA said it should be signed of within a week so I am expecting a mortgage offer early this week! 

hwilson10

Hi all, joining this as I'm also waiting for HSBC, my timeline below;
16/7 - DIP approved, full application made directly through HSBC.
23/7 - They requested additional COVID related income documents, submitted the same evening.
5/8 - Application moved to "ready for offer".
14/7 - Phoned the team and they said our application was sat with the underwriters, she said she would chase. 
I'm really starting to to worry, we're on a tight timeline now and we're rapidly running out of time. HSBC seem to be moving at a glacial pace!